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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Aston Martin Lagonda Global Holdings Plc | AML | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| -10.00 | -6.75% | 138.20 | 16:35:24 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 128.00 | 128.00 | 143.50 | 138.20 | 148.20 |
| Industry Sector |
|---|
| AUTOMOBILES & PARTS |
| Top Posts |
|---|
Posted at 01/5/2024 16:08 by swiss tony Yes Chesil, let AML get MORE in debt by using that facility.That's NOT cash, it's borrowing/debt. Pragmatic init, put AML MORE in debt than they are, because they know cash raise will be truly painful for everyone concerned. Even at 400m, they will burn through that in 5 months. Like I keep on repeating ad nauseum, AML NEED TO COVER ALL LIABILITIES AS A GOING CONCERN. £200m doesn't cover them, so they have to raise cash in next 2/3 months. |
Posted at 01/5/2024 13:23 by swiss tony They only have £229m cash left, that's below the levels they raised at last time.AML burned through £190m in Q1, so with more new models coming, they will burn through similar rates of cash in Q2. So they are out of cash in 3 months, will need to raise before that to cover all liabilities. Last public raise was £650m announced at £4.40 and new shares were 4-1 at £1.03. So by today's price of £1.40 they would be raising at 35p for similar amounts. I don't think they need 650m this time, but they have no option but to raise at least £220m, so around a third of the last raise. I'd say you're looking at under a pound. |
Posted at 01/5/2024 10:08 by fundamentals23 I think there was an overreaction this morning and you've seen that with the market finding its way back to £1.40 very quickly from the £1.26 panic sell off.AML have been clear for some time now that H2 this year is where things are heavily loaded and so those who have followed knew todays results would look like this. In isolation and on paper it looks poor but there are much more favourable results coming for Q3 and Q4, and of course the addition of the guy who led Bentley to a strong turnaround. |
Posted at 01/5/2024 07:14 by fundamentals23 https://www.londonst |
Posted at 25/4/2024 19:57 by swiss tony ssoreport.com/aml-nu |
Posted at 16/4/2024 12:30 by bracke If current support fails possible support at 120.AML DAILY |
Posted at 03/4/2024 13:16 by timc2645sg c2645sgPosts: 3,271 Price: 158.30 No Opinion RE: Aston Martin allegedly to name Bentley's Hallmark as new CEOToday 12:18 Recent investment in AML seems similarly awful to Lucid (and other terrible decisions by PIF). May 18, 2023 41,575,708 shares at 3.35 GBP from Stroll to Geely 28,300,000 shares at 3.35 GBP to Geely KE 234m investment now worth 110m July 31, 2023 58,245,957 shares at 3, 71 GBP at a discount of 6.2% to PIF, Geely, Mercedes, Stroll KE 210m investment now worth 92.3 million November 2, 2023 |
Posted at 14/3/2024 08:12 by swiss tony New bonds:$137m per annum in interest old bonds: 1.184 billion at 10.5% = $124.32 million $ 121,660,456 at 15.0% = $18.249 million Total $142.569m per annum Saving $5.5 million per year. The old bond term was Nov 2025 and the new March 2029, i.e. 3 years and 5 months. Saving $19 million in interest, but how much will it cost? AML have extended revolving credit from £70m to £170m, so £100m EXTRA in debt. AML have also said cash will be used to fund this bond refinancing, how much? When cash levels sink, when is the next CASH RAISE? AML are losing c.250m per year. So OVERALL, AML are in a worse position with debt than they were. |
Posted at 06/3/2024 07:57 by swiss tony iant20:The CFO said they were "currently" not expecting s cash raise. Stroll said "Let me be crystal clear, black and white, we don;t need more money" while putting plans in place to raise £650m last year. The fact the CFO said "currently" tells you all you need to know. Tomorrow he might decide they are out of cash. From Karenable: "Net debt at the end of 2022 stood at £766 mil. By the end of December 2023, it had risen to £814 mil. Cash at the end of 2023 was down by £191 mil. (vs. end 2022) to £392.4 mil. which includes £311 mil. in proceeds from 2023 share sales (ex the share sales cash would be £81.4 mil.). The bulk of the cash raised in 2023 has already been burned through (which confirms Stroll’s comment in June on CNBC that Aston Martin is on fire). Just to make the cash situation even a bit more concerning, customer deposits are down by £66 mil. in Q4 2023 to around £250 mil. (equalivant to 64% of AML’s cash) as AML hasn’t been able to bring in new deposit funds for the Valour & Valhalla fast enough to offset the unwinds as Valkyries get delivered." |
Posted at 07/8/2023 17:09 by chesil356 Moody's changes Aston Martin's outlook to positive from stable; Caa1 ratings affirmedRating Action | 8 min read 07 Aug 2023 Moody's Investors Service London, August 07, 2023 -- Moody's Investors Service (Moody's) has today changed Aston Martin Lagonda Global Holdings plc's (AML, Aston Martin or the company) outlook to positive from stable. Concurrently, Moody's has affirmed AML's Caa1 corporate family rating (CFR) and Caa1-PD probability of default rating (PDR), and the Caa1 instrument rating of the backed senior secured first-lien notes due November 2025 issued by Aston Martin Capital Holdings Limited. A full list of affected ratings can be found towards the end of this press release. RATINGS RATIONALE The affirmation of AML's ratings and the outlook change to positive from stable reflects the company's improving operating performance in the first half of 2023, which Moody's expects to be sustained over the next 18 months on the back of the company's ongoing launch of the next generation sports cars. The rating action further reflects AML's recently completed placing of £210 million of new shares and its plan to use the proceeds mostly for the early redemption of its second-lien notes with a face value of around £186 million. The planned repayment of the second-lien notes is evidence of a more balanced financial policy which includes the accelerated target to achieve a company-adjusted net leverage of around 1.0x by 2024-25. Moody's forecasts AML to achieve strong revenue growth of about 15% to £1.6 billion revenue in 2023, and a further 25% increase in 2024 to reach close to its £2 billion revenue ambition. The recently launched and well-received DB12, the additional new model launches planned for the next 12 months, as well as the continued success of its DBX should support strong volume growth over the next 18 months, and Moody's forecasts wholesales to exceed 8,000 units by the end of 2024. While volume growth is considered a key driver to achieve its revenue and EBITDA targets, Moody's understands that AML no longer has specific volume targets. Instead the company focuses on increasing its average selling price (ASP) and achieving a gross margin of above 40% for new models launched to drive its revenue and EBITDA growth. Based on the assumptions of higher volumes and an ASP exceeding £220k in 2023 and trend towards £230k in 2024, Moody's forecasts AML's Moody's-adjusted EBITDA (adjusted for capitalised development cost) to turn positive and reach just over £100 million in 2024. In combination with the redemption of the second-lien notes, which will reduce the company's Moody's-adjusted debt by around 13% to £1.1 billion, Moody's expects AML's adjusted leverage to decrease towards 10x by year-end 31 December 2024. Furthermore, Moody's forecasts AML's adjusted free cash flow to improve to around break-even in 2024, after remaining substantially negative by about £200 million in 2023. This improvement is supported by a significantly higher EBITDA and an estimated £12 million decrease in interest expenses following the planned debt repayment. Considering the anticipated improvements in the company's cash generation from 2024 onwards, and its £400 million cash position at the end of June 2023, Moody's does not expect AML to require additional debt or equity funding over the next two years. If AML is able to also refinance the $1.155 billion of backed senior secured first-lien notes well ahead of their maturity in November 2025, and simultaneously extend its revolving credit facility (RCF) due August 2025, Moody's would view the company's capital structure as sustainable which could support a rating improvement. ESG CONSIDERATIONS AML's ratings also reflect a number of environmental, social and governance (ESG) considerations that are inherent to the automotive industry. This includes higher environmental standards, stricter emission regulations and electrification; autonomous driving and connectivity; increasing vehicle safety regulations; and the entry of new market participants. In line with the company's guidance to invest £2 billion over five years, including technology access fees, Moody's expects AML as well as its peers to continue to require sizeable investments to cope with these challenges, which will continue to constrain free cash flows in the coming years. RATING OUTLOOK The positive outlook reflects Moody's expectation that AML's credit metrics will notably improve over the next 12-18 months, supported by strong revenue and EBITDA growth, fuelled by multiple new model launches and a substantial order book. The outlook further assumes that AML will follow a more balanced financial policy with a clear focus on deleveraging whilst maintaining an adequate liquidity. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS Upward pressure on the rating could materialise if AML 's successfully completes the launch and commences deliveries of its next generation sports cars, and as such continues to improve its average wholesale price and grow its revenue. It would also require Moody's-adjusted free cash flow to sustainably improve to around break-even, liquidity to remain at least adequate, Moody's-adjusted Debt/EBITDA to improve towards 7.0x on a sustained basis, and the Moody's-adjusted EBITA margin to turn sustainably positive. The rating is currently strongly positioned, as expressed by the positive outlook, as a result of which limited negative rating pressure is expected. However, downward pressure on the rating could develop if AML fails to further improve its profitability, leverage remains very high or free cash flow continues to be substantially negative. A weakening in AML's liquidity profile or an increase in debt would also put pressure on the rating. LIQUIDITY ANALYSIS Moody's considers AML's liquidity to be adequate. As of 30 June 2023, the company had £400 million of cash on the balance sheet and access to its £90.6 million RCF due in August 2025, which was drawn down by £29 million. In addition, the company has an inventory repurchase programme in place. AML's RCF is subject to a springing net leverage covenant which is tested when the facility is drawn by more than 40% and Moody's expects the company to maintain sufficient headroom going forward as it continues to reduce its leverage as defined by the covenant. Moody's forecasts AML's free cash flow (Moody's-adjusted) to be marginally positive in the second half of 2023, following an outflow of around £230 million in the first half of the year, and to be close to break-even in financial year 2024. As such Moody's expects AML's liquidity to remain adequate over the next 12-18 months, and to improve further through free cash flow generation beyond 2024. STRUCTURAL CONSIDERATIONS The Caa1 rating of the backed senior secured first-lien notes due in November 2025 ranks in line with the Caa1 CFR, despite the priority position of the £90.6 million super senior RCF and because of its relatively small size compared to the $1.155 billion of backed senior secured first-lien notes. Both the first- and second-lien notes, the latter expected to be repaid, have been issued by Aston Martin Capital Holdings Limited, while the RCF was issued by Aston Martin Lagonda Limited. The shared security and guarantee package for the notes and RCF cover 79% of AML's revenue and 113% of AML's assets, and includes the main factory in Gaydon and significant intellectual property. Other debt includes various working capital financing arrangements and some smaller debt facilities |
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